AbhishekHSinghCMT
Short

Infosys- Ukulele & Ending Diagonal(Wedges)Cracks 1040 to 979

NSE:INFY   INFOSYS LTD
562 21 16
Last Price@982.50

Ukulele (A form of guitar) has so much similarity to Waves. Yes, that is correct.

If you want to learn Ukulele just concentrate on 4 strings because major pop songs are result of these 4 strings but before you want to learn Ukulele you need to have one.

There are 100’s of chords which is initimidating, but actually once you read the song book –you will realise these 4 chords are repated again & again.

These 4 chords are G- D- Em(E-Minor) & C- yes all done & you can sing a song. The real truth -You need some skills which can be developed over the time & one needs to have patience to learn a new thing.

Ending Diagonal

It either appears in 5th wave or C-wave             to end the trend. These waves are choppy –In traditional analysis you call it wedge . Power of wedge .

How powerful these structures can be is just evident from the one identified at 1040-1042 zone in the previous update where Infy             was struggling for so many days –created doubt to me that yes, It is not moving forward infact we have a risk of ending the structure at the current zone 1040-1042.



Already a triple top in the zone 1040-1045 was another reason to sell for this amazing downside trend- which I was confident.

What Next?
Likely if Infosys             can sustain above 980 next – prior swing high where we sold yesterday at day high@1005 can act as resistance in next few sessions.

Selling at day high@1005- Crossing Bullet Train - 6th             April2017



Trading Strategy
Scenario- Holding above 980 we shall look for 1003-1006 as resistance zone if holds, then we look for selling again for targets atleast for 979 or lower.

Have a nice weekend.




Trade active: 10:00 Hrs 10th April2017

Last Price@983

Day low below 980 -dipping below 980 & bouncing above is where Risk Takers can attempt to buy for 1000-1005 target zone with day low as stops.
Trade active: 11:22 Hrs 10th April2017

Last Price@980

980-983 is the challenge zone for Infosys so stable move upside above 982 we will think to buy or create any long positions. At current, closing this as well & waiting at sidelines.
Trade active: 11:56 Hrs 10th April2017

Last Price@977

Saved. Out in Time at 980.
Trade active: 13:58 Hrs 10th April2017

Last Price@965

Infy cracks & I was looking for a bounce to sell- which we got early morning till 989 but failed to capitalise the same.

Trade active: 15:00 Hrs 10th April2018

Last Price@958

Infosys -Give me Red- Unstoppable

Trade active: 17:53 Hrs 11th April2017

Last Price@967

From Yesterday's low@950- It opened sharp today & made high@972 -post that it was doing sideways whole day .

Moving above 972 next Infy can retest 980-990 zone- 986 is a prior key level for us where we come back again to see if that is the right place to sell or not.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Very risky to trade given the result ahead (13th). Any positive trigger will be dangerous. No technical can be followed on such big event day.
Reply
@Anilkulkarni, Yes -Thanks for update about result date - we will take care on that day. On result day- It behaves weird- I have seen so many times. Up move & down move on both sides trapping all.
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Why does it say "Trade Active"? You had exited at 980.
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@VPS, 980 & Above I was for Buy. here Infosys is selling in deep red.
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AbhishekHSinghCMT AbhishekHSinghCMT
@AbhishekHSinghCMT, I said we exit buy at cost of 980 which I assumed & better out in buying.
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@VPS, If you follow connecting update earlier post Ending Diagonal- I have said even 900 -920 can be retested. & we are looking for bounce to sell only. temp buying which was suggested above 980 was exited at 980.
Reply
VPS AbhishekHSinghCMT
Yes. Thanks for clarifying. Appreciate it.
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can we expect a short bounce here?
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AbhishekHSinghCMT rahulmarathe80
@rahulmarathe80, The way it is falling -it is always dangerous to put hands to buy. So we expected a bounce only to sell. Likely it goes in the zone 940-945 but then also I will have to check.
Reply
rahulmarathe80 AbhishekHSinghCMT
@AbhishekHSinghCMT, ok..thanks sir
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